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Segment and Geographic Information (Tables)

12 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

The following tables summarize by segment certain revenues and significant expense categories that are regularly provided to the CODM.

			Fiscal Year Ended September 30, 2025
(in millions)			Commercial						Institutional						Self-Directed / Retail						Payments						Corporate						Eliminations						Total
Non-interest revenues			$	129,048.4					$	991.1					$	373.2					$	212.2					$	22.2					$	(3.2)					$	130,643.9
Interest income			208.8						1,507.4						32.3						1.6						42.2						(58.0)						1,734.3
Total revenues			129,257.2						2,498.5						405.5						213.8						64.4						(61.2)						132,378.2
Cost of sales of physical commodities			128,251.3						—						—						—						—						—						128,251.3
Operating revenues			1,005.9						2,498.5						405.5						213.8						64.4						(61.2)						4,126.9
Transaction-based clearing expenses			83.2						275.7						13.3						7.4						5.8						(3.2)						382.2
Introducing broker commissions			70.6						33.6						103.0						4.2						—						—						211.4
Total interest expense			83.4						1,332.3						7.6						—						115.2						(58.0)						1,480.5
Net operating revenues			768.7						856.9						281.6						202.2						(56.6)						—						2,052.8
Variable compensation and benefits			192.9						281.5						15.1						34.5						83.1						—						607.1
Net contribution			575.8						575.4						266.5						167.7						(139.7)						—						1,445.7
Fixed compensation and benefits			77.6						87.5						33.5						25.9						276.1						—						500.6
Trading systems and market information			17.3						34.6						13.1						1.1						17.0						—						83.1
Professional fees			8.0						15.7						11.5						3.2						47.9						—						86.3
Non-trading technology and support			2.0						3.9						8.6						1.8						71.0						—						87.3
Selling and marketing			5.0						3.4						34.2						0.5						7.4						—						50.5
Travel and business development			9.2						8.7						1.9						1.1						12.1						—						33.0
Depreciation and amortization			10.3						7.2						15.8						4.7						29.5						—						67.5
Bad debts, net of recoveries			1.6						—						1.5						—						—						—						3.1
Shared services			32.2						16.1						9.7						8.8						(66.8)						—						—
Other fixed expenses			18.1						11.8						12.6						3.5						85.0						—						131.0
Non-variable expenses			181.3						188.9						142.4						50.6						479.2						—						1,042.4
Other gains (losses), net			1.0						(0.7)						5.5						(0.3)						—						—						5.5
Segment income			$	395.5		2`			$	385.8					$	129.6					$	116.8					$	(618.9)					$	—					$	408.8
			As of September 30, 2025
Total assets			$	9,826.3					$	32,465.5					$	1,256.2					$	722.5					$	997.5					$	—					$	45,268.0

			Fiscal Year Ended September 30, 2024
(in millions)			Commercial						Institutional						Self-Directed / Retail						Payments						Corporate						Eliminations						Total
Non-interest revenues			$	97,146.8					$	782.1					$	351.8					$	207.3					$	5.5					$	(2.5)					$	98,491.0
Interest income			182.1						1,180.0						37.8						2.3						41.4						(46.8)						1,396.8
Total revenues			97,328.9						1,962.1						389.6						209.6						46.9						(49.3)						99,887.8
Cost of sales of physical commodities			96,451.6						—						—						—						—						—						96,451.6
Operating revenues			877.3						1,962.1						389.6						209.6						46.9						(49.3)						3,436.2
Transaction-based clearing expenses			70.3						228.0						13.6						7.0						2.9						(2.5)						319.3
Introducing broker commissions			44.3						31.2						87.8						2.9						—						—						166.2
Total interest expense			41.8						1,072.5						7.1						0.2						108.7						(46.8)						1,183.5
Net operating revenues			720.9						630.4						281.1						199.5						(64.7)						—						1,767.2
Variable compensation and benefits			174.5						200.1						18.7						37.0						76.2						—						506.5
Net contribution			546.4						430.3						262.4						162.5						(140.9)						—						1,260.7
Fixed compensation and benefits			68.9						77.1						44.2						28.6						217.1						—						435.9
Trading systems and market information			15.7						30.0						12.7						1.4						19.3						—						79.1
Professional fees			7.6						20.1						9.1						1.0						31.9						—						69.7
Non-trading technology and support			1.8						3.3						9.8						1.8						56.7						—						73.4
Selling and marketing			5.5						3.5						35.2						0.5						7.9						—						52.6
Travel and business development			8.3						7.5						2.5						1.1						9.0						—						28.4
Depreciation and amortization			6.2						3.9						15.5						3.3						24.2						—						53.1
Bad debts, net of recoveries			0.2						(1.3)						0.5						1.2						—						—						0.6
Shared services			28.7						13.6						7.9						7.8						(58.0)						—						—
Other fixed expenses			19.2						6.6						11.1						3.2						82.5						—						122.6
Non-variable expenses			162.1						164.3						148.5						49.9						390.6						—						915.4
Other gains, net			6.9						—						1.9						—						—						—						8.8
Segment income			$	391.2					$	266.0					$	115.8					$	112.6					$	(531.5)					$	—					$	354.1
			As of September 30, 2024
Total assets			$	5,383.9					$	19,492.9					$	1,027.2					$	438.8					$	1,123.5					$	—					$	27,466.3

			Fiscal Year Ended September 30, 2023
(in millions)			Commercial						Institutional						Self-Directed / Retail						Payments						Corporate						Eliminations						Total
Non-interest revenues			$	58,662.2					$	700.9					$	290.5					$	210.9					$	6.1					$	(2.1)					$	59,868.5
Interest income			154.5						812.7						30.5						1.7						25.6						(37.4)						987.6
Total revenues			58,816.7						1,513.6						321.0						212.6						31.7						(39.5)						60,856.1
Cost of sales of physical commodities			57,942.0						—						—						—						—						—						57,942.0
Operating revenues			874.7						1,513.6						321.0						212.6						31.7						(39.5)						2,914.1
Transaction-based clearing expenses			60.7						187.9						16.2						6.8						2.3						(2.1)						271.8
Introducing broker commissions			40.2						35.4						83.7						2.3						—						—						161.6
Total interest expense			41.0						758.3						5.3						0.2						92.3						(37.4)						859.7
Net operating revenues			732.8						532.0						215.8						203.3						(62.9)						—						1,621.0
Variable compensation and benefits			177.2						180.5						13.8						38.8						72.9						—						483.2
Net contribution			555.6						351.5						202.0						164.5						(135.8)						—						1,137.8
Fixed compensation and benefits			61.4						59.7						47.2						36.6						180.5						—						385.4
Trading systems and market information			13.9						27.7						13.0						1.3						18.1						—						74.0
Professional fees			6.2						13.3						9.9						1.2						26.4						—						57.0
Non-trading technology and support			3.1						5.1						7.9						1.7						43.8						—						61.6
Selling and marketing			4.9						2.3						41.3						1.1						4.4						—						54.0
Travel and business development			7.1						6.5						3.4						1.8						6.0						—						24.8
Depreciation and amortization			4.3						3.5						19.7						0.8						22.7						—						51.0
Bad debts, net of recoveries			15.7						(1.5)						2.3						—						—						—						16.5
Shared services			24.0						10.5						10.6						7.1						(52.2)						—						—
Other fixed expenses			14.8						8.6						10.4						3.8						78.3						—						115.9
Non-variable expenses			155.4						135.7						165.7						55.4						328.0						—						840.2
Gain on acquisition and other gains, net			—						2.1						—						—						23.3						—						25.4
Segment income			$	400.2					$	217.9					$	36.3					$	109.1					$	(440.5)					$	—					$	323.0
			As of September 30, 2023
Total assets			$	4,707.2					$	15,059.3					$	983.3					$	376.6					$	812.3					$	—					$	21,938.7

Schedule of Revenue Long-Lived Assets, by Geographical Areas

Information regarding revenues and operating revenues for the fiscal years ended September 30, 2025, 2024, and 2023, and information regarding long-lived assets (defined as property, equipment, leasehold improvements and software) as of September 30, 2025, 2024, and 2023 in geographic areas were as follows:

			Fiscal Year Ended September 30,
(in millions)			2025						2024						2023
Total revenues:
United States			$	7,760.5					$	6,026.3					$	6,017.4
Europe			3,107.4						2,358.8						3,498.9
South America			564.0						455.0						271.4
Middle East and Asia			120,922.7						91,015.0						51,023.6
Other			23.6						32.7						44.8
Total			$	132,378.2					$	99,887.8					$	60,856.1
Operating revenues:
United States			$	3,013.6					$	2,507.0					$	2,120.4
Europe			663.7						594.8						494.3
South America			177.5						141.8						127.0
Middle East and Asia			236.7						159.9						127.6
Other			35.4						32.7						44.8
Total			$	4,126.9					$	3,436.2					$	2,914.1
(in millions)			As of September 30, 2025						As of September 30, 2024						As of September 30, 2023
Long-lived assets, as defined:
United States			$	77.5					$	76.2					$	76.0
Europe			74.7						54.2						40.7
South America			6.8						5.6						4.4
Middle East and Asia			6.6						7.1						2.4
Other			1.0						—						—
Total			$	166.6					$	143.1					$	123.5

X

- Definition

Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

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X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 25
-Publisher FASB
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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-Paragraph 30
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